Kofax Exceeds 1M Loans Processed Per Year; Drew Hyatt Comments

Kofax Plc is now processing more than 1.1 million mortgages in the U.S. per year amid growing demand for its services.

Two companies have awarded Kofax more than $1.5 million for its Mobile Capture suite to process more than 100 million document pages annually, Kofax said Tuesday.

Drew Hyatt, senior vice president of mobile applications at Kofax, said financial institutions are investing in the company’s services as they aim automate loan processing and generate return on investment.

Mobile Capture’s imaging technologies work to help customers use cameras built into smartphones and tablets in capturing images of documents and data, Kofax says.

The service then transmits the information to business applications and repositories, Kofax says.

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